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Trump’s most recent ultimatum to impose an extra full import duty on Chinese goods has been described as a “classic case” of American hypocrisy, according to the Chinese government.

A representative of the ministry further commented that the nation could enact its own undisclosed “retaliatory steps” if the White House occupant carries out his pledge, emphasizing that the country was “unafraid” of a looming trade war.

On Friday, the former president retaliated at China’s decision to strengthen its regulations for exports of critical elements, charging Beijing of “turning aggressive” and attempting to hold the world “captive”.

He also threatened to withdraw from a planned meeting with Chinese leader Xi Jinping, which was expected to take place during a summit in Seoul later this month.

The former president’s remarks on last Friday shook stock exchanges, with the S&P 500 share index falling by 2.7%, marking its biggest drop since April.

His comments reignited concerns of a trade war between the two economic giants.

In May, the respective governments had consented to drop triple-digit tariffs on each other’s goods, which had led to concerns of commerce ceasing between the economic powers.

This left, United States levies on Chinese imports facing an additional import tax compared with the year’s onset, while US goods entering the Chinese market face a 10% tariff.

The most recent comments from China – released by the Ministry of Commerce in the form of written responses to press queries – mirrored language from the peak of the recent trade conflict.

The remarks condemned United States controls on semiconductors and chips while justifying Beijing’s restrictions on exports on rare earths as “normal actions” to safeguard state interests and that of all nations.

The official said that for “an extended period”, the United States had “overstretched the concept of state security, abused overseas sale restrictions and “implemented” unfair treatments against Beijing.

“Turning to” tariff threats is not the right way to engage with China,” the official said.

“Beijing’s stance” on a import duty dispute has consistently been steady: we do not want one, but we are fearless of one.”

Last week, China declared it was strengthening foreign shipment restrictions on rare earth minerals and other materials essential to advanced tech manufacturing.

This was seen as a significant step, as the nation refines about 90% of the planet’s critical minerals, which are utilized in products such as photovoltaic modules and handheld devices.

Latest statements from both governments are being viewed by some as a strategy of bolstering negotiating stances in preparation for future trade talks.

Is not yet known whether a talks between Trump and Xi Jinping, expected at a conference in Seoul later this month, will still proceed.